Our Top Up Loans are for members who already have an existing FAIRshare loan, and wish to borrow more money. You need not have repaid your previous loan in full, but you must have made at least 3 months’ repayments before applying for a top up (Excludes Holiday Loan, Christmas Loan and Early Bird Loan)*. Any outstanding loan balance will be taken into consideration when assessing your Top Up application.
(*Our Policy regarding the Top Ups of (Refinancing) loans now includes:
Any member wishing to Top Up (Refinance) their loan, must not be in arrears and must have maintained their loan repayments for the previous 3 consecutive months.
The earliest that an application to Top Up (Refinance) a loan is 3 months after the date of the original loan agreement and or 3 months after any Top Up (Refinancing) is taken out.)
You can apply to borrow between £50 – £7500. Loans of higher amounts may be considered – the maximum that can be borrowed is £7500 above your savings value. If you are unsure of your current saving balance, or if you have any queries, please contact FAIRshare to discuss.
Where top-up loans are made, a composite interest rate will be calculated and applied to the loan in total. The composite interest rate takes into account both the rate applicable to the original loan and the rate applicable to the new loan.
*Conditions may apply
If you have made 13 weekly or 3 monthly payments since taking our your Handi-Loan, you can top up* using your OpenCash facility – just give us a call & funds could be in your account that day.
You can ‘top-up’ with Open Cash whenever your Handi-Loan value reaches £300. There is no extra cost** & no need to complete an application form. The minimum ‘top-up’ value is £50.
*Top Up your Handi-Loan to a maximum of £500
**No extra fees, but interest payable on full balance